Walmart’s sales grow as VeChain introduces new green NFT market
Walmart China realized a surge in workload from its previous monthly transaction record, a sentiment of success owing to its relationship with VeChain. Walmart achieved new successes, seeing 1.8 million transactions take place on a single day in December, which topped the total number of transactions for the entire month.
VeChain’s support for environmentally friendly technology boosts Walmart’s prowess
Data from anonymous VeChain community moderator, VetMalik, reveals that Walmart’s relationship with VeChain has propelled the company to surpass its previous monthly transaction record, performing 1.8 million transactions on a single day in December.
VeChain blockchain is the backbone of Walmart China’s blockchain-based food traceability and tracking solution. VeChain helps Walmart customers quickly scan and track the history of food goods purchased from the chain’s locations.
The integration of blockchain technology into Walmart China’s supply chain has helped increase the efficiency and precision of its food traceability procedures.
The transaction boost was also accompanied by decreased associated costs and losses, which helped the brand avoid reputational harm. Michele M., director of supply chain twin transition at classification organization DNV, disclosed in a recent piece that the relationship between VeChain and Walmart China had helped both parties.
She also unveiled that Walmart’s VeChain integration illustrates how blockchain technology can help revolutionize any sector. Walmart’s success is a stepping stone to encourage hundreds of other businesses to use VeChain.
Other advanced technological developments from VeChain
Apart from Walmart’s successes with VeChain, other industries have attested to VeChain’s prowess in offering effective blockchain solutions. For example, Laava ID has had success with VeChain via its blockchain-as-a-service (BaaS), software-as-a-service (SaaS), and platform-as-a-service (PaaS) solutions.
Laava also praised World of V, the largest and first non-fungible token (NFT) marketplace on VeChain, via a tweet. The Australian-based digital identity business stated that World of V fosters a culture centered on environmental sustainability and accessibility. Last October, the company partnered with VeChain and aimed to use VeChain as its public blockchain service provider for its innovative fingerprint system. Laava stated:
“The World of V is the zero-free, green NFT marketplace building a sage, entertaining space for digital creators worldwide.”
Several food industry brands have already come to par and integrated the protocol, but World of V and the VeChain Foundation have collaborated for a new venture. Both parties are working on launching the first VeChain community digital collectible event. The program presented the idea of “phygital” digital collectibles, which integrate physical collectibles and NFT technology.
VET could also gain favorable feelings from its innovation and market traction. VeChain’s token price is currently valued at $0.0175, down 1.80% in the last 24 hours.
The blockchain solution service provider is in the race to foster different industries apart from the supply chain to aid in global blockchain adoption. VeChain has also benefited from the enormous volume of transactions it has brought to the network. Walmart’s success is a testament to hundreds of other businesses’ significance in using VeChain.